Gate News message: On April 7, spot gold broke through 4680 USD per ounce, up 0.66% intraday.

On-chain data shows that the whale starting with 0x06a completed the second round of GOLD long positions between April 6 and 7. Its position size increased to $13.20 million, with an average entry price of $4,677. It is currently down slightly by about $43k. This address previously opened GOLD long positions with a $10.30 million size, realized a profit of $417k, and then closed the positions.

Gate News update: On April 7, the People’s Bank of China reported that its gold reserves at the end of March were 74.38 million ounces (about 2,313.48 tons), up 160k ounces (about 4.98 tons) month-over-month. Gold reserves at the end of February were 74.22 million ounces (about 2,308.5 tons). This is the 17th consecutive month that the People’s Bank of China has added to its gold holdings.

Gate News message, April 7, UBS lowered its forecast for the gold price at the end of June to $5,200 per ounce. UBS said the cut was due to cooling investor demand for gold as market volatility intensified.

Gate News message; April 7, according to Gate’s latest data, the gold price rose to 4657.79 USD/oz, up 0.15% during the day. The silver price rose to 72.886 USD/oz, up 0.14% during the day. BVIX (BTC Volatility Index) latest quote 47.99, down 1.17% during the day; EVIX (ETH Volatility Index) latest quote 67.68, down 3.04% during the day. In the foreign exchange market, the US dollar to offshore Chinese yuan (USD/CNH) rose 0.02% during the day; current exchange rate

On April 6, gold prices fell to $4,675.42 per ounce, and silver prices were $72.681 per ounce. In the crypto market, the BTC and ETH volatility indexes were 47.66 and 67.41, respectively. In the FX market, the U.S. dollar versus the Chinese yuan and the Japanese yen edged down, European stock indexes generally declined, WTI crude oil rose, and Brent crude oil fell. The Gate platform supports trading for a variety of financial market products.

Gate News, April 6, Onchain Lens monitoring shows that a whale address has opened 10x leveraged gold long positions. Current holdings are 2,831.5 $GOLD, with a position value of $13.2 million.

Sky Links Capital CEO Daniel Takieddine said that, as expectations for Federal Reserve rate cuts weaken, the upside potential for gold is limited. The price of gold is influenced by strong U.S. labor data and geopolitical risk. He noted that gold’s near-term performance will depend on U.S. economic data and policy signals.

Gate News message, April 6, spot gold breaks through $4,690 per ounce, up 0.31% intraday.

According to Gate’s latest news, on April 6 the precious metals market weakened, with gold and silver prices falling to $4,630.46 per ounce and $72.055 per ounce, respectively. Volatility in the crypto market changed somewhat, while the U.S. dollar in the foreign exchange market rose slightly. Global stock indexes showed mixed performance, with WTI crude oil slipping slightly and Brent crude oil rising. The Gate platform supports trading a wide range of financial products.